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Sharps Containers Market – PMI
The report “Sharps Containers Market, By Product Type, By Usage Type, By Medical Waste Generators – Trends, Analysis and Forecast till 2029”.
COVINA, CALIFONIA, UNITED STATE, March 16, 2023 /EINPresswire.com/ — Sharps Containers Market refers to the market for specialized containers used for the safe and proper disposal of sharp medical instruments and needles. These containers are designed to protect healthcare professionals, patients, and the environment from the risk of injury and infection caused by exposure to contaminated sharp objects.
Sharps containers can be made of various materials, including plastic, metal, or a combination of both. They are available in different sizes and capacities to meet the needs of various healthcare settings, from small clinics to large hospitals. Sharps containers are widely used in hospitals, clinics, laboratories, and other healthcare settings. They are also used in non-healthcare settings such as tattoo parlors, veterinary clinics, and home healthcare settings. The market is highly competitive, with a variety of manufacturers and distributors offering a range of products and services to meet the needs of different customers.
Key Highlights:
• Toter LLC launched 35-gallon medical waste cart. Merck, a leading science and technology company, opened its M Lab Collaboration Center in Shanghai, the company’s largest of nine centers worldwide, with an aim to improve and optimize drug discovery, development and manufacturing facilities.
• PureWay, a health –focused organization partnered with Safe Needle Disposal for educating public about safe needle disposal program.
Analyst View:
Increasing investment in research and development of biologics
Primary responsibility of healthcare system is disposal of biomedical waste and increasing need for proper management of biomedical waste fueling the growth of sharp containers market. As per world health organization every year about 16 million injections are used globally and this generated waste require appropriate disposal treatment. WHO and other regulatory bodies provide set of standard guidelines for disposal of medical waste. These guidelines are mandatory for all healthcare providers and pharmaceutical companies. Furthermore, growing healthcare budget, increasing demand for syringes, needles and rapid penetration of technology in healthcare sector are driving the market growth of sharp container market. In February 2018, Becton, Dickinson and Company, a leading sharps containers manufacturer, launched a new program to help ensure proper containment of household sharps in Los Angeles (the U.S.). Rise in number of surgical procedures which generate significant amount of sharps waste are estimated to boost the sharps containers market by 2025.
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Key Market Insights from the report:
The Sharps Containers Market accounted for US$ 466.7 million in 2019 and is estimated to be US$ 711.1 million by 2029 and is anticipated to register a CAGR of 4.30%. The market report has been segmented on the basis of product type, usage type, medical waste generators, distribution channel, and region.
• Depending upon product type, the multipurpose containers accounted for the largest share of the market in 2018, and are estimated to continue to dominate the market. Rise in demand for sharps containers by large quantity waste generators such as hospitals and ambulatory surgical centers are expected to boost the multipurpose containers segment.
• Depending upon the usage type, the sharps waste segment dominated the market with highest rate, due to improved regulatory policies by governments for safe disposal of contaminated sharps.
• In terms of medical waste generators, hospitals segment accounted for the highest share of the market due to rise in hospitalizations across the globe. Favorable reimbursement policies in private and public hospitals are estimated to increase the amount of sharps waste in hospitals. This, in turn, is expected to drive the segment by 2029.
• By distribution channel, the direct sale segment is anticipated to expand at a significant growth rate from 2018 to 2025. Expansion of the segment can be attributed to the rise in preference for direct purchase of sharps containers in bulk quantity by medium and large quantity waste generators across the globe.
• By region, North America dominated the global sharps containers market in due to rise in adoption of sharps management service offered by key sharps containers manufacturers in the U.S. Europe accounted for the second largest share of the market.
Key Questions Asked for Sharps Containers Market:
A. What is driving growth in the Sharps Containers Market?
B. How are Sharps Containers disposed of?
C. What are the different types of Sharps Containers?
D. What are the potential opportunities and challenges in the market?
E. How does the product/service differ from similar offerings in the Sharps Containers Market?
F. What are the distribution channels for the product/service?
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Major Companies Included are:
• Medtronic, Becton
• Dickinson and Company
• Daniels Health
• Sharps Compliance Inc.
• MAUSER, EnviroTain LLC
• Bondtech Corporation
• Bemis Manufacturing Company
• Henry Schein Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Sharps Containers Market Report Scope:
1. Sharps Containers Market, By Product Type, 2019 – 2029, (US$ Mn)
o Patient Room Containers
– Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
– Y-o-Y Growth Analysis (%), 2019 – 2029
– Segment Trends
o Phlebotomy Containers
– Overview
– Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
o Multipurpose Containers
– Overview
– Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
2. Global Sharps Containers Market, By Usage Type, 2019 – 2029, (US$ Mn)
o Infectious & Pathological Waste
– Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
– Y-o-Y Growth Analysis (%), 2019 – 2029
– Segment Trends
o Sharps Waste
– Overview
– Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
o Pharmaceutical Waste
– Overview
– Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
o Non-Infectious & Other Waste Types
– Overview
– Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
3. Global Sharps Containers Market, By Medical Waste Generators, 2019 – 2029, (US$ Mn)
o Hospitals
– Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
– Y-o-Y Growth Analysis (%), 2019 – 2029
– Segment Trends
o Clinics & Physician’s Offices
– Overview
– Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
o Pharmaceutical Companies
– Overview
– Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
o Long-Term Care & Urgent Care Centers
– Overview
– Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
o Pharmacies
– Overview
– Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
o Others
– Overview
– Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
4. Global Sharps Containers Market, By Distribution Channel, 2019 – 2029, (US$ Mn)
o Direct Sale
– Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
– Y-o-Y Growth Analysis (%), 2019 – 2029
– Segment Trends
o Online Sale
– Overview
– Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
o Retail Sale
– Overview
– Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
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Impact of COVID19 Pandemic on Market:
At the starting of 2020, COVID-19 disease began to spread around the world; many more peoples are infected with COVID-19 disease, and major countries around the world send the orders to companies for employee prohibition and work stoppage. Every organization is prepared for the loss by this pandemic. Hence the sharps containers also affected by the COVID-19 lockdown scenario, as it ultimately links to distribution, manufacturers, market size, marketing channels, and market factors. This report will quantify the impact of this pandemic on the sharps containers market.
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